Conveo raises $50M to scale its AI-powered consumer intelligence platform

Consumer research technology company Conveo has secured $50 million in Series A funding to grow its operations in the United States and enhance its AI-powered platform for enterprises. This investment brings the company's total funding to $55.8 million. Conceived by Dieter De Mesmaeker and Hendrik Van Hove, Conveo creates technology enabling businesses to gather and analyze consumer insights for product, marketing, and strategic decisions.

Over 400 enterprises currently utilize Conveo's platform, including more than 50 Fortune 500 companies, with clients such as Google, Unilever, AB InBev, and Canva. The company aims to address the shortcomings of traditional research methods where surveys offer broad insights but lack depth, and focus groups or interviews can be time-consuming and expensive to conduct on a large scale.

Additionally, research is frequently siloed within individual projects, making it difficult for companies to maintain an up-to-date understanding of evolving consumer behavior.

Initially, Conveo created an AI-powered research interviewer that conducts in-depth video conversations with consumers across various markets, including in-home settings where participants demonstrate product usage. This technology allows businesses to perform qualitative research at scale, covering aspects such as consumer needs, behavior, pricing, and brand perception.

The platform supports additional methods like MaxDiff, price sensitivity, and diary studies. Insights obtained through these conversations are organized into a shared consumer intelligence layer that teams can search using natural language and access via dashboards, AI agents, and integrations with existing software.

Conveo is now advancing this model with StoryLines, a product designed to continuously conduct research on topics of strategic importance to a company. Instead of treating each research project independently, StoryLines integrates new findings into an evolving knowledge base that can be utilized across product, marketing, and strategy teams.

According to Conveo, StoryLines has already secured significant enterprise contracts. CEO Dieter De Mesmaeker highlighted the company's infrastructure, which gathers, structures, and synthesizes consumer data at an unprecedented scale, employing cutting-edge research methodologies, carefully selected participants, and a purpose-built data architecture.

The new funding will support Conveo's expansion in the US and the ongoing development of its consumer intelligence platform, as the company endeavors to incorporate its technology into broader enterprise decision-making processes.